CannabisNewsBreaks

WednesdayJun 03, 2020 9:41 am

CannabisNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Update on Insolvency Proceedings Under the CCAA

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) and certain of its direct and indirect wholly owned subsidiaries (collectively "GGB", the "company" or the “Applicants”) on Tuesday released an update on its insolvency proceedings under the Companies’ Creditors Arrangement Act (Canada) ("CCAA"). As announced on May 20, 2020, GGB filed for insolvency protection under the CCAA and obtained an order from the Ontario Superior Court of Justice (the “Court”) granting protection for an initial 10 day period until May 29, 2020, as extended until June 12, 2020. According to the update, the Court, on June 2, 2020, granted a motion filed…

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TuesdayJun 02, 2020 11:10 am

CannabisNewsBreaks – Wildflower Brands Inc. (CSE: SUN) (OTC: WLDFF) Announces $5.3 Million in Revenues for Q3

Wildflower Brands (CSE: SUN) (OTC: WLDFF) today announced $5.3 million in revenues in its third quarter, compared to $2.5 million in the previous year’s third quarter and $5.5 million in the second quarter. According to the update, revenues were slightly less than last quarter; however, even with unforeseen circumstances and business affected by Covid-19, Wildflower was able to operate with a net gain of $101,435 compared to a loss of $(1,019,862) in the third quarter of 2019. Wildflower’s U.S. operations have been curtailed due to the closure of many retail locations where the Company’s products are sold.  Manufacturing and sales…

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TuesdayJun 02, 2020 10:40 am

CannabisNewsBreaks – Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) to Secure $11.25 Million in Bought Deal Public Offering

Cardiol Therapeutics (TSX: CRDL) (OTCQX: CRTPF), a leader in the production of pharmaceutical cannabidiol (“CBD”) and the development of innovative cannabidiol products for heart diseases, recently announced its entry into an agreement with Canaccord Genuity Corp. (the "Lead Underwriter"). Under the arrangement, the Lead Underwriter agreed, on behalf of a syndicate of underwriters, to purchase, on a bought deal basis per the filing of a short form prospectus, an aggregate of 4,500,000 units, each at a price of $2.50, for aggregate gross proceeds of $11,250,000 to the Company. Cardiol intends to use the proceeds to support commercialization of its pharmaceutical…

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TuesdayJun 02, 2020 10:00 am

CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Engages PCG of New York for IR and Digital Marketing Services

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, on Monday announced that it has retained PCG Advisory, Inc. ("PCG") of New York, to provide investor relations and digital marketing services to the Company in compliance with regulatory guidelines. According to the update, PCG's sectors of deepest experience include life sciences, technology and cannabis, and it reaches thousands of individual, retail and institutional investors daily using the latest social media and digital marketing techniques. PCG will develop a comprehensive strategy to increase investor awareness of Lexaria, amplify market visibility, and introduce the Company to its…

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MondayJun 01, 2020 9:48 am

CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Announces Re-Launch of Rainbow Sherbet Cannabis-Infused Gummies for Pride 2020, SF Queer Nightlife Fund Collaboration

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp branded products company in California, today announced the re-launch of its best-selling* limited edition Rainbow Sherbet cannabis-infused gummies for Pride 2020. According to the update, the Company is collaborating with the SF Queer Nightlife Fund (the “SF QNF”) as part of its commitment to strengthening and supporting the communities in which it operates and sells products. Under the collaboration, Plus Products will donate $1 per tin sold to provide direct financial relief to workers in queer nightlife in San Francisco who have been affected by the COVID-19 pandemic. “The spirit…

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FridayMay 29, 2020 11:22 am

CannabisNewsBreaks – VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) Announces AGM 2020 Results, Election of New Director

VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Thursday announced the election of each of the seven individuals nominated as a director of VIVO at the company's Annual General and Special Meeting of Shareholders held on May 28, 2020. According to the update, VIVO management nominated each of the existing directors, together with new nominee, Christie Henderson, for election at the meeting. Henderson is the managing partner and CEO of Henderson Partners LLP, a firm of chartered professional accountants and advisors, as well as a certified corporate director (“ICD.D”). She has more than 20 years of experience with consumer products, retail,…

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FridayMay 29, 2020 11:07 am

CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Reports Financial Results for Q1 2020

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis branded products company in the U.S., on Thursday released its unaudited financial and operational results for the three months ended March 31, 2020, expressed in U.S. dollars. Among other highlights, the company reported an increase in net revenues to $4.7 million in Q1 2020, representing a 46% year-over-year growth as compared to Q1 2019, as well as a 36% quarter-over-quarter growth as compared to Q4 2019. “The start of this year came with a number of difficult decisions that were made in order to accelerate our path to cash flow generation,” Jake…

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FridayMay 29, 2020 10:09 am

CannabisNewsBreaks – Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) Announces Voluntary Share Lock-Up, Engagement of Gold Standard Media for Marketing and Consulting Services

Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), a human optimization sciences company with an emphasis on ketamine and psychedelic medicine, today announced that certain shareholders have agreed to a voluntary resale restriction period covering 17,840,000 common shares extending the period of time before the shares become free trading to July 15, 2020. According to the update, these shares were previously only subject to a statutory hold period. In addition, Champignon Brands also announced its engagement of Gold Standard Media, LLC (“GSM”) to provide marketing and consulting services to raise public awareness of the company, with a specific emphasis on…

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ThursdayMay 28, 2020 11:07 am

CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Implements Changes as Part of Strategic and Operational Review of Business

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today announced a series of operational changes designed to optimize its organizational structure, streamline operations, and preserve and maximize cash-on-hand. According to the update, the company, as part of its strategic and operational review of the business, is implementing changes including a material reduction in the company's operating cash outflows; a focus on generating positive cash flow; and a focus on maximizing returns on existing assets. In addition, the company today reaffirmed its intention, under its previously announced normal course issuer bid (the “NCIB”), to repurchase subordinated…

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WednesdayMay 27, 2020 10:19 am

CannabisNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Announces Q1 2020 Results, Remains on Track to Reach Milestone

The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, on Tuesday announced its financial results for the first quarter of 2020 ended March 31, 2020. Among the highlights, the company reported a 27% year-over-year increase in revenue to $3.06 million and indicated that it is on track to reach its operational cash flow positive milestone. “I am proud of the resilience demonstrated by everyone on the team in the face of the global pandemic. With safety as our top priority, we have quickly adapted our processes, allowing our operations to continue running smoothly…

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